Posted by Geff on March 21, 1999 at 23:15:20:
Are you sure you’ve never read the E-Myth?
You hit the nail on the head. You would love the book… make sure you get it!
Geff
E-myth - Posted by Bert G
Posted by Bert G on March 21, 1999 at 11:07:14:
R. Kiyosaki reccommends the book “The E-Myth” by Michael Gerber. I’m having a little trouble finding it.
Amazon.com only lists the cassette version of “E-Myth Revisited”, and I’d really prefer printed matter. (I find it easier to retain.) Anybody know the IBSN so I can try ordering from the local B Dalton?
(Like I’ll have time to read it anyway. Mr. LeGrands stuff came Friday, and I’m still waiting for Mr. Bronchick and Mr Landlord.)
Mr Bert
Re: E-myth - Posted by Daniel Lubell
Posted by Daniel Lubell on March 22, 1999 at 22:46:04:
The idea of a system, or systemic thinking, is the most important and vital part of any successful business. Even if right now the system is just “you” and nobody else, you need to plan it as if it were more. I know that Karp seems to really understand this concepet. At the convention, he outlined several business ventures he is involved with, and each one seems to run without him.
The Emyth system really has helped me, and it is still
“under construction”. I don’t know if it will ever be done, but the closer you get, the easier life gets!
I wrote an article on this subject, and it is listed under the Money Making Ideas section of this site. Specificaly, it deals with how this concept relates to real estate. It is called “Working on your business, not in it”.
Daniel Lubell
E-Myth Revisited is the one you should buy (nt) - Posted by karp
Posted by karp on March 21, 1999 at 19:50:18:
nt
Re: E-myth - Posted by Mike Harrison
Posted by Mike Harrison on March 21, 1999 at 19:43:02:
Just went to Amazon and they say “E-Myth” is out of print but that E-Myth Revisited and “E-Myth Manager” are available.
THE BIBLE… - Posted by L.A.
Posted by L.A. on March 21, 1999 at 16:07:06:
I refer to the “E-MYTH” as my bible for business/real estate.
I discovered it back in January of this year & it has revolutionized my life !!!
Read this book & U will have the basic info on how to dwarf people…in income & sales of any sort.
Example: I love Ron LeGrand…as many of U know Ron has Quick turned over 1,000 houses.
I guess it took Ron about 10 years to do that & that is not bad at all…heck I haven’t done that, BUT after I read the “E-MYTH” & enrolled in the course…I learned how ANYONE…could duplicate Ron’s results within 24 months !!!
Matter of fact I ran across a guy who CONSISTANTLY sells 600 houses per year.
I also ran across a married couple who CLOSE on 200 sales per WEEK !!!
They operate out of their house.
The secret ???
Having a SYSTEM or as Karp would say a PROCESS.
Hey…what ever U are doing now…LOGG OFF…RUN TO THE BOOK STORE & buy a copy of the “E-MYTH” & THE E-MYTH MANAGER !
You will be glad that U did…trust me.
I have NEVER seen the principles in this book offered in any real estate course.
Now I know why many a guru has gone out of business.
Just my 2 cents.
p.s.: What’s the difference between Bill Gates & the guy who owns a computer store down the street???
Read the E-Myth & U will find out what that difference is !
Why you must read the E-Myth… - Posted by karp
Posted by karp on March 21, 1999 at 14:15:23:
Many RE investors go into this game with notions of “working for themselves”, “setting their own hours”, “being their own boss”, etc.
While these are all good goals there is somthing slightly subersive about them which I have wanted to address for a while. See, I read the E-Myth a long time ago and it remains just about the only book I ever recommend. The E-Myth takes the position that until you have PROCESS over PRODUCT you will never be free.
To calrify this, lets apply it to Real Estate. If you are self-employed and make you money as an investor by dabbling in different areas of real estate, that is all fine and good. But until you treat the “Real Estate Investing” as a businesss with set rules, processes etc. you will never enjoy the freedom and success you could have.
This is Gerber’s point as well. He makes a poignant comparison of companies set up on the small business model vs. the franchise model. Almost all small businesses fail whereas almost all franchises succeed.
Why? PROCESS, PROCES, PROCESS…
You need to have a system for what you are doing, if you want to be able to reproduce those results. That is one reason why I have named every one of my techniques, I have flowcharts describing them, and I
do my best to REMOVE myself from the process as soon as possible.
For me, this is the only way to really succeed is to have others doing MY JOB.
Now, I know this will rub many of you the wrong way as you see employees as a hassle. In fact, you may feel like having only yourself to rely on is the best thing about real estate. But I will tell you, like most “common knowledge” that we accept, this may be wrong.
Here is an example. Somebody posted once upon a time “How can you, karp, ever do any real estate when you aren’t driving around looking at houses?” THAT is the limited thinking that Gerber addresses very well in his book.
I hope you all find the time to read it and internalize it. I think it may make a large difference for you.
Thanks,
karp
Re: E-myth - Posted by Geff
Posted by Geff on March 21, 1999 at 13:21:56:
I would think that your local B-Dalton would carry it… It is a pretty common book to find in any bookstore.
Anyway, the ISBN# is 0-88730-728-0
It’s a very good book.
Geff
Re: E-myth - Posted by GregA (NE)
Posted by GregA (NE) on March 21, 1999 at 12:51:52:
Amazon carries the book. Try:
Hope this helps.
Thank you Dan! - Posted by karp
Posted by karp on March 23, 1999 at 12:06:38:
Your understanding of why systems are so important to me and your acknowledgement that I have accomplished this is the best compliment I have received on this board.
Thanks,
karp
Re: THE BIBLE… - Posted by Tom Rabbia
Posted by Tom Rabbia on March 23, 1999 at 02:59:55:
The following is a quote from your post…“BUT after I read the “E-MYTH” & enrolled in the course…I learned how ANYONE…could duplicate Ron’s results within 24 months !!!”
What course did you enroll in? E-myth course?
THANKS
Tom
Possible Answer… - Posted by Scott(AK)
Posted by Scott(AK) on March 21, 1999 at 18:43:28:
Bill Gates has a team of folks who are smarter in specialize dareas…the store owner has to do it all himself.
Gates works ON his business, the store owner works IN his
Am I close?
Must Be Something To It… - Posted by Scott (AK)
Posted by Scott (AK) on March 21, 1999 at 17:13:57:
Robert Kiyosaki talks about “systems” in his book “Cashflow Quadrant”, Gerber mentions “Process over Product”, and Joe Kaiser shares one system after another.
All seem to be doing rather well at what they do in my opinion.
Better get the systems in place, wouldn’t you think?
Scott
Found it - Posted by Bert G
Posted by Bert G on March 22, 1999 at 09:55:08:
Found the paperback on Amazon, thanks to the IBSN number. (for some reason the title and author search just turned up the tapes). One click, and its on its way. I’m really anxious to read it now, especially after Karps’ comments.
BTW Karp, I overheard you mention you were writing an article on the social acceptability of creative real estate. I’m looking forward to that.
BG
Re: THE BIBLE… - Posted by L.A.
Posted by L.A. on March 23, 1999 at 05:46:09:
Check out www.e-myth.com
Info on the course is on that site…they can help U in the area of “business operating systems”
If U want to learn how to move 600 houses per year.
Then call Ralph Roberts at 1-800-704-5189 & request the free info.
Put the two together & U will drawf LeGrand !
I LOVE RON LeGRAND…but these two put U into another level of thinking !
Hope this helps.